License - definitions of lines of insurance - authority

(1) Unless a person is denied licensure pursuant to section 10-2-801, the division shall issue to a person who has met the requirements of sections 10-2-401 and 10-2-404 an insurance producer license. An insurance producer may receive qualification for a single license to include one or more of the following lines of authority: (a) "Life", which means insurance coverage on human lives that: (I) Shall include benefits of endowment and annuities; and (II) May include benefits for: (A) The event of death or dismemberment by accident; and (B) Disability income; (b) "Accident and health", which means insurance coverage for sickness, bodily injury, or accidental death and that may include benefits for disability income; (c) "Variable life and variable annuity products", which means insurance coverage provided under variable life insurance contracts and variable annuities; (d) "Property", which means insurance coverage for the direct or consequential loss or damage to property of every kind; (e) "Casualty", which means insurance coverage against legal liability, including that for death, injury, or disability or damage to real or personal property; (f) Repealed. (g) Limited lines credit insurance; (h) Crop hail; (i) Title; (j) Surplus lines; (k) Travel insurance, as defined in section 10-2-414.5; (l) Health maintenance organizations ("HMO"); except that no person shall be issued a new license for this individual line of authority on or after January 1, 2002, pursuant to section 10-2-402; (m) Nonprofits; except that no person shall be issued a new license for this individual line of authority on or after January 1, 2002, pursuant to section 10-2-402; (n) "Personal lines", which means property and casualty insurance sold to individuals and families for primarily noncommercial purposes; or (o) Any other line of insurance permitted under state law or regulation. (2) (Deleted by amendment, L. 2001, p. 1199, § 14, effective January 1, 2002.) (3) An insurance producer license for surplus lines may be issued to resident persons pursuant to article 5 of this title.